It’s been a few years since Spectre.ai first came onto the scene, and it’s quickly become one of the most popular trading platforms in the world. But is Spectre.ai safe? Is Spectre.ai legit? What are the pros and cons of using Spectre.ai?
In this blog post, we’ll take a look at Spectre.ai in 2023 and give you our honest opinion on whether or not it’s worth trading on this platform.
What is Spectre.ai?
Spectre.ai is a trading blockchain-based trading platform that allows you to trade CFDs on a variety of assets, including forex, stocks, cryptocurrencies, other asset classes with unprecedented safety.
Spectre.ai is one of the few platforms that allow you to trade on leverage, which can be a great way to increase your profits (or losses) if used correctly. More on that later.
This platform is owned and operated by Spectre Trading Limited, a company registered in St. Vincent and the Grenadines.
So far, Spectre.ai seems to be a pretty legit company. But also it’s too early to tell.
How about we do a 360 review of Spectre.ai and go over the important points before we give our verdict?
Specre.ai Trading Platform.
Spectre.ai has its own proprietary trading platform that is built on the Ethereum blockchain and utilizes smart contracts to ensure that all trades are executed instantaneously and without counterparty risk.
This is a huge advantage over traditional centralized exchanges, which often suffer from slow trade execution times and have been known to experience issues with order book manipulation.
The system is web-accessible and also has mobile apps for both Android and iOS devices.
This platform also has an API Traders Spectre.ai which traders can use to build automated trading robots in both the demo account and the real account.
The only disadvantage so far is the limited number of indicators and charting tools on the platform. Spectre.ai would be quite a cheat if you’ve previously used trading view and the MT4 platforms.
Spectre.ai Account Types.
In order to participate in online trading and make money, you will need to create an account with your preferred broker. Spectre.ai is one of the many brokers available online in 2022.
The new account registration process is pretty straightforward and only takes a few minutes.
You will need to provide your email address, create a password, and later, verify your identity by providing some personal information and uploading a photo ID.
Once your account is created, you will be able to deposit money into your account to start trading with real money.
Let’s not get ahead of ourselves though. Let’s look at some of the trading accounts available on the Spectre platform.
1). Spectre.ai Demo Account.
A demo account is a great way to try out a new platform and see if it’s right for you without risking any real money.
Spectre.ai offers a free demo account with $200,000 in virtual currency.
This is an impressive amount compared to other brokers that only offer $1,000 or $10,000 in their demo accounts.
Spectre.ai’s demo account is also available in both the web version and the mobile app.
You can use the demo account to test out different strategies, to see how Spectre.ai’s platform works, or just to get a feel for online trading in general.
We recommend that all new traders start with a demo account before moving on to a real money account.
2). Spectre.ai Regular Account
The Spectre.ai regular account is the most basic account type and is designed for new and advanced traders who want to start trading with a small amount of money (tokens0.
With this account type, you can trade directly from your crypto wallet and if you win, your winnings are credited directly to your wallet.
Now, this is an interesting way of trading because it helps traders remove middlemen in their trading experience. Plus, transactions for this type of trading are processed instantly and without fees.
The only disadvantage is, you have to trade with at least $5 which may not be ideal for someone used to trading with $1 per trade on platforms like Olymp Trade, Iq Option, Quotex, Binomo, Expert Option, or Pocket Option.
3). Spectre.ai Defi Account.
The Defi account is the account where you may choose to use any of the available Defi currencies offered ( SNX, KNC, BAND, LINK, USDC, PAX) in order to deposit/withdraw and also trade.
One thing to note though, any funds deposited in this account are NOT converted into a FIAT currency (for example USD) and are held and traded by you in their original form.
You may not exchange any part of your balance from one Defi coin to another, as this is NOT an exchange account.
In order to use the Defi account, you will be required to fully complete the KYC process before being able to deposit, withdraw or trade.
Spectre.ai Deposit And Withdrawals.
Deposit and withdrawal methods on Spectre.ai vary depending on the account type you choose.
For example, if you choose to trade with a regular account, you can deposit and withdraw using any of the following methods:
- Credit/Debit Card
- Bank Transfer
- Cryptos (ETH or BTC).
However, if you choose to trade with a Defi account, you will only be able to deposit and withdraw using Defi coins like SNX, KNC, BAND, LINK, USDC, or PAX.
Assets on Spectre.ai.
Spectre.ai offers a wide range of assets for trading including:
- Reverse Futures.
- And EPIC assets.
a). Cryptocurrencies on Spectre.ai.
These are Spectre.ai’s digital contracts on cryptocurrencies in real-time.
Prices for these cryptos are adjusted for volatility and liquidity. Being derived from spot and futures prices across over 200 global exchanges as found on Coinmarketcap, they incorporate data from Asia as well, reflecting at times the Kimchi premium in assets.
Cryptos trading in Specre.ai is available 24 hours, 7 days a week at the highest payouts and at near-zero spreads.
Equities is Spectre.ai’s digital contract on global equities in real-time.
Prices for equities are adjusted for volatility.
During trading hours they are based on actual real-time trading of the asset while after trading hours they are based on OTC prices.
You can trade Equities on Spectre.ai 24 hours, 7 days a week.
Forex is Spectre.ai’s digital contract on Foreign Exchange currency pairs in real-time.
Payouts and spread for Forex may vary during the time of day.
You can trade Forex on Specter throughout the week apart from weekends and bank holidays.
EPIC is Spectre.ai’s benchmark index of Euro-based currency pairs, traded through time.
The data feed is audited and based on historical price data, representing intraday market movements (i.e volatility) of the Euro, relative to a basket of other currencies.
Just like Crypto and Equities, you can trade and make money with EPIC 7 days a week.
FYI, EPIC stands for Epochal Price Index Composite.
e). Reverse Futures.
Reverse Futures is Spectre.ai’s digital contract on global equities in the past.
Data feed from reverse futures is also audited and based on historical price data representing intraday market movements (i.e volatility) of various stocks.
Reverse futures are also available to trade 24 hours, 7 days a week.
You can change or add assets on Spectre.ai by clicking the plus sign on the top right corner as shown in the image below.
Spectre.ai Customer Support.
Quite so often you will need help in understanding this or that when using Spectre.ai to trade. Sometimes the issue could be as simple as just confirming a deposit, a withdrawal, or where to find educational materials for Spectre.ai trading.
For these and other issues, Spectre.ai has very good customer service that is available 24/ hours a day, seven days a week. Customer service can be reached by:
- Live chat – accessible from the bottom right-hand corner of the broker’s website
- Email – [email protected]
- Social media channels like Facebook, Twitter, and Telegram.
The Spectre.ai team is very responsive and helpful, as befits a company that wants to provide the best possible trading experience for its clients.
Security is Spectre.ai’s number one priority when it comes to the safety of your funds.
The broker uses state-of-the-art security technologies, such as SSL encryption, two-factor authentication (for withdrawals), and cold storage (for crypto assets).
Furthermore, Spectre.ai’s technology allows traders to trade from their crypto wallets which ensures more safety as Spectre.ai never has access to your private keys.
Is Spectre.ai a Legit Broker? The Verdict
Spectre.ai is a very good broker with a lot to offer its clients, both in terms of features and security.
The Spectre.ai Trading platform is user-friendly and easy to use, and the fees are very low.
The customer service is excellent and always available to help you with whatever issue you might have.
All in all, Spectre.ai is a very good choice for both beginner and experienced traders alike.
If you are looking for a broker that offers a lot of features, low fees, and good security, then Spectre.ai is the broker for you.
Key Features. Spectre.ai
|✔️ Headquarters||St. Vincent and the Grenadines|
|✔️ Year founded||2019|
|✔️ Demo account||Yes|
|✔️ Islamic account (swap-free)||Yes|
|✔️ Managed accounts||Yes|
|✔️ Deposit options||Skrill, Neteller, Bank transfer, Credit/debit cards, Uphold, PaySafeCard, UnionPay (China), Advcash (South America, Russia, Europe), FasaPay (Indonesia, Vietnam, Thailand and Malaysia), Help2pay (Malaysia, Thailand, Indonesia and Vietnam)|
|✔️ Withdrawal options||Fasapay, UnionPay, Advanced Cash, Ether, Help2Pay, Skrill, Neteller, UpHold (credit card, bank transfer, or cryptos), PaySafeCard|
|✔️ Platforms||Web and mobile apps.|
|✔️ Customer Support||German, English, Japanese, Vietnamese, Chinese among other languages.|
|✔️ Assets||80+ tradable assets|
|✔️ Minimum deposit||No minimum deposit|
|✔️ Payouts||Up to 400% payouts|
|✔️ Trade duration||One second EPIC expiry|
|Liquidity||Decentralised liquidity pool|